Mexican Media Brands
Daimler to Make Mercedes, Truck Units Legally Independent
Daimler AG intends to restructure into a holding company with three separate legal units: Mercedes-Benz cars and vans, Daimler trucks and buses, and financial services.
#legal
Share
Daimler AG intends to restructure into a holding company with three separate legal units: Mercedes-Benz cars and vans, Daimler trucks and buses, and financial services.
The company says the proposed reorganization would give each unit greater “entrepreneurial responsibility” to cope with rapid changes in the personal and commercial transport sectors. The financial services business already is legally independent.
Daimler has budgeted about €100 million ($119 million) to pursue the first steps in the proposed restructuring.
The carmaker says there is no plan to divest any existing divisions. The company also notes that neither the supervisory board nor management board has made any final decision to move forward. Daimler adds that shareholders aren’t likely to be asked to approve any restructuring plan until at least 2019.
RELATED CONTENT
-
Bosch Targeted in Criminal Probe of VW Diesel Cheating in U.S.
Federal prosecutors in the U.S. are trying to determine whether Robert Bosch GmbH conspired to help Volkswagen AB—and perhaps other carmakers—rig their diesel engines to evade emission standards, sources tell Bloomberg News.
-
U.S. Justice Dept. Asks VW to Delay Diesel Cheating Report
The U.S. Dept. of Justice has asked Volkswagen AG not to release findings of an independent probe into the German carmaker's diesel emission cheating scandal.
-
Uber Settles with Family of Woman Killed in Self-Driving Car Crash
Uber Technologies Inc. has quickly settled on damages to the survivors of a woman killed in Tempe, Ariz., last week by an Uber test vehicle operating in autonomous mode.